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Want to know about the craft beer and local wine and food industries? Then don’t miss this episode! Join host Hugh Duffy as he talks with Corey Lord, Lord CPAs. The two discuss how he got started in this unique niche. What are some of the pressure points in those businesses? And what are some of his goals for the future? Join us! Want to know about the craft beer and local wine and food industries?
While most of the world has gone into some version enforced social distancing and quarantine mode with the rise of COVID-19 — closing schools, banning public gatherings, shutting down all non-essential businesses like restaurants and shops and requiring that anyone who can work from home do so — Sweden has been an outlier. Shops in Sweden remain open, as do bars, restaurants, schools and offices.
On Tuesday, April 14 th , Henry Schein Professional Practice Transitions has invited Lee Pennington, CPA to discuss Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs within The CARES Act legislation. Henry Schein Professional Practice Transitions is the leader in dental practice sales and transitions. Lee Pennington is the owner of R.
Dear Client: Right now your highest priority continues to be the health of those you love and yourself. But you may have read a letter that I recently sent that summarized the Coronavirus Aid, Relief, and Economic Security (CARES) Act tax provisions. That letter included a brief discussion of the CARES Act’s deferral of and changes to the limit on excess business losses.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
On April 14, 2020, the U.S. Small Business Administration (SBA) issued guidance regarding the Paycheck Protection Program (PPP) application process for self-employed individuals. The application process was officially open to sole proprietors and independent contractors on April 10, 2020, but it was difficult to complete the application due to the lack of sufficient guidance.
JPMorgan Chase is attempting to stave off the oncoming economic downturn by raising the standards on who can borrow from them for the time being, according to a Reuters report. The new standards will make it so customers applying for a new mortgage will need a credit score of 700 or higher and will have to make a down payment of 20 percent of the home’s values.
For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. An awful lot of other things have changed all around that core, however. Most Main Street businesses are shut down for the time being; workers are away from their offices; and as a result of social distancing, we as a society have concentrated all
For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. An awful lot of other things have changed all around that core, however. Most Main Street businesses are shut down for the time being; workers are away from their offices; and as a result of social distancing, we as a society have concentrated all
Three months seems a lifetime ago, pre- coronavirus pandemic, pre-recession, pre-lockdown, pre-bailouts. The stark changes in all facets of daily life for the U.S. (and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. This week, Wells Fargo , JPMorgan Chase , Citigroup , Bank of America and Goldman Sachs will report results for the March quarter and are likely to show volatility, to pu
Italian bank Monte dei Paschi was the victim of a hacking attempt, according to a notice seen by reporters recently, Reuters reported. The state-owned bank did not comment but told clients in an email that the attack was on some of the employees’ mailboxes. Some voicemail messages had been sent as attachments because of the attack. The notice did not say there had been any breach of company data, and it didn’t say if customers had lost anything or what the fraudulent emails had been
The global pandemic has thrown businesses into an entirely new playing field and left many scrambling to act. Retail demand has risen sharply for items like home cleaning supplies and groceries, while dropping off in other product categories, leaving companies to adjust to these shifting purchasing patterns. Businesses reliant on global supply chains and manufacturers in greatly impacted countries face new hurdles and must seek ways to acquire the items they need.
It has been said that a crisis reveals what people truly value, quickly separating the things that one needs to have from those that one merely wants to have. And, given the state of grocery store shelves for the last month or so due to the coronavirus pandemic, we feel we can safely say that what American most fundamentally value is toilet paper. Closely followed by disinfectant spray.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Food delivery apps GrubHub, DoorDash, Postmates and Uber Eats were named in a class-action lawsuit filed in Manhattan federal court that alleges price gouging during the coronavirus pandemic as well as before. Additional service fees charged to restaurants will result in higher menu prices that will trickle down to hurt consumers, according to a Reuters report on Monday (April 13). .
Cash is the buffer that can help companies grapple with the drop in consumer demand, the ripple effects of disrupted supply chains and disappearing top lines as the coronavirus pandemic continues. Cash is what can keep the lights on and the staff paid. And in some case companies have had to tap into new ways of raising cash (beyond, for example, waiting for stimulus or bailout funds) by leveraging assets that, in turn, tie into a resurgence in consumer spending and traveling — in short, business
From error messages on the Get My Payment tool to misrouted funds and checks sent to dead people, the IRS is having a tough time getting coronavirus stimulus money into the hands of those who need it most. . The new Get My Payment tool launched on Wednesday (April 15) by the IRS and the Treasury Department is supposed to let people know when they can expect their stimulus check or direct deposit, or allow them to enter direct deposit information so they can get their money faster. .
Amid the coronavirus pandemic, a significant number of bank branches shuttered. And where there are branches, hours are staggered. As Doug Brown, senior vice president and general manager of NCR , told Karen Webster, fundamental shifts are underway in financial services and the very way in which those services are delivered — and the shifts will be permanent.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Freelancers worldwide found themselves impacted by the new coronavirus as it shuttered businesses and stalled payments, with many gig workers now fulfilling critical roles to keep society moving as consumers retreat inside of their homes. Food delivery and Uber drivers, for example, are among those still able to work. Other freelancers such as wedding industry vendors saw their ability to work rapidly decline during the pandemic, sending them into their homes to hopefully outlast COVID-19 financ
The handshake has a long and curious history as far as greetings go. Most historians place the first instance back in the 5 th century BCE in Greece, where it was used to demonstrate that one was not carrying a weapon. When used in a commerce context in public markets, it was often combined with another new fad sweeping early civilization – waving (to demonstrate you weren’t holding a weapon in the other hand, either).
The Consumer Financial Protection Bureau (CFPB) has made it easier for people to access stimulus CARES Act funds by removing some of the legal barriers barring banks from issuing the payments through prepaid accounts, according to a press release. Banks or other government agencies are usually unable to get direct deposits right to consumers if the banks are not in possession of the consumer’s account information.
COVID-19 could mark the true rise of the robots in retail. As warehouse workers strike for better protective equipment and consumers show increased sensitivity around handling food, several new examples of robots filling in have emerged over the past few weeks. The robotic rise can be seen in two key areas: fulfillment and in-store. As an example, Ocado, Britain’s leading online grocer, has had to stress-test an experimental program to automate its warehouses.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Students at some of the world’s leading business schools, including Kellogg School of Management, Insead and The Wharton School, have demanded refunds on their tuition payments amid online classes they said are not worth the exorbitantly high fees they paid to attend the schools in person, according to the Financial Times. The classes have to take place online for now because of the coronavirus pandemic, but students at some schools said using Zoom or other such platforms just isn’t
PayPal has become one of the first non-bank institutions allowed to distribute loans to help small- to medium-sized businesses (SMBs) in response to the coronavirus pandemic, according to a press release. The digital payments platform will now be able to give loans to SMBs that apply for loans under the Small Business Association’s (SBA’s) Paycheck Protection Program (PPP).
Stores are shut down, restaurants are restricted to carryout and delivery only, professional sports are on hold, most flights are grounded and the fate of summer vacation in 2020 remains a coin toss. In short, the world of mid-April 2020 in the United States looks very, very different from that of January 2020 – in fact, it’s very different from any other time in the country’s history.
Jim McCarthy, i2c president, says disasters often breed innovation. “Telecommuting, online education and moving to a cashless and virtual financial system will likely become the norm,” he told PYMNTS. “This most recent black swan is proving that online financial services are a lifeline service.”. The following is an excerpt from Black Swan , contributed by i2c President Jim McCarthy.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
“Social distancing doesn’t have to stop the flow of money in today’s digital world,” Ingo Money CEO Drew Edwards told PYMNTS. “Whether we are talking about spending money or receiving money from a disbursement, we will likely see the acceleration of digital payment adoption…” as one byproduct of the COVID-19 pandemic. Edwards discusses payments post-pandemic in Black Swan, a special report exclusively from PYMNTS.com.
At some point after the COVID-19 crisis passes, retailers will need to reckon with artificial intelligence (AI). It may seem like an advanced data application is a galaxy away from current concerns about survival. But if data is the new oil for retail competition, AI is the jet fuel. And if the retail comeback from COVID-19 contains order and purchase spikes, ignoring AI could come at a price.
In what appears to be an unprecedented move, an industry trade association is stepping in to help restart a retail community hit hard by the COVID-19 pandemic. Last week, The Toy Association , which produces the mega-sized New York Toy Fair, announced plans for “ Toy Fair Everywhere.” It will be a series of virtual market weeks to help businesses connect with customers at a time when in-person events are impossible to hold.
Square Capital announced Monday (April 13) it’s the latest FinTech to participate in the federal Paycheck Protection Program (PPP). In a tweet , Square Capital Lead Jackie Reses announced the San Francisco-based company, which allows anyone to accept credit card payments using a smartphone or tablet, has been approved to process the U.S. Small Business Administration loans and will collaborate with Celtic Bank of Salt Lake City to launch its program this week.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
As the coronavirus pandemic continues, Groupon plans to lay off around 2,800 employees, according to a filing with the U.S. Securities and Exchange Commission on Monday (April 13), the Chicago Tribune reported. The layoffs are partly an attempt to keep up with the current economic strife that has left large portions of the country jobless. Chicago-based Groupon, which sells consumers coupons and deals to various retailers and businesses, has not seen its best days due to the stay-at-home orders
The applications of artificial intelligence (AI) are manifold, and many feel that perhaps its most meaningful uses are in the healthcare field, where data can be a matter of life and death. PYMNTS’ Unlocking AI Playbook: Healthcare Edition , a collaboration with Brighterion , examines the frustratingly slow pace of AI adoption in the greater healthcare space.
It’s hard to find a retail resume that’s more impressive than Joyce Hampers’. It starts with an undergrad degree from Boston College and a law degree from Boston University. After that, a private law practice followed by an appointment by William Weld (then governor of Massachusetts) as commissioner of revenue in 1975. And when President George Bush was elected in 1989, she became U.S.
The quickly evolving telehealth category has a new business model, with diabetes prevention program (DPP) Fruit Street teaming with meal kit company Purple Carrot to add a retail spin to its health advisory service. Fruit Street’s team of registered dietitians reviews Purple Carrot meals and makes sure they follow dietary guidelines for Type 2 diabetes.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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